Infosys (NYSE:INFY) Shares Down 3.3% - Here's Why

Infosys Limited (NYSE:INFY - Get Free Report) traded down 3.3% during trading on Thursday . The company traded as low as $17.90 and last traded at $17.95. 3,016,957 shares were traded during mid-day trading, a decline of 68% from the average session volume of 9,345,218 shares. The stock had previously closed at $18.57.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Infosys from a "buy" rating to a "hold" rating in a research report on Thursday. HSBC upgraded shares of Infosys from a "hold" rating to a "buy" rating in a report on Monday, December 9th. Guggenheim reiterated a "neutral" rating on shares of Infosys in a research note on Friday, January 17th. CLSA upgraded Infosys from a "hold" rating to an "outperform" rating in a research report on Friday, March 7th. Finally, Hsbc Global Res raised Infosys from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $19.70.

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Infosys Stock Up 1.2 %

The company has a market capitalization of $76.79 billion, a P/E ratio of 23.47, a PEG ratio of 3.50 and a beta of 1.01. The company has a 50 day simple moving average of $20.81 and a two-hundred day simple moving average of $21.89.

Infosys (NYSE:INFY - Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The technology company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. Infosys had a return on equity of 31.60% and a net margin of 17.28%. During the same quarter last year, the firm posted $0.18 EPS. As a group, research analysts expect that Infosys Limited will post 0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Infosys

Several hedge funds have recently added to or reduced their stakes in INFY. Fairtree Asset Management Pty Ltd bought a new stake in shares of Infosys during the 4th quarter worth approximately $130,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Infosys by 6.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 93,792 shares of the technology company's stock worth $2,056,000 after purchasing an additional 5,998 shares during the last quarter. Employees Retirement System of Texas boosted its stake in shares of Infosys by 539.1% during the fourth quarter. Employees Retirement System of Texas now owns 78,699 shares of the technology company's stock valued at $1,725,000 after purchasing an additional 66,385 shares during the period. Mackenzie Financial Corp increased its stake in Infosys by 159.1% in the 4th quarter. Mackenzie Financial Corp now owns 463,502 shares of the technology company's stock worth $10,160,000 after buying an additional 284,599 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in Infosys by 27.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,069,502 shares of the technology company's stock valued at $45,363,000 after buying an additional 451,245 shares during the period. 16.20% of the stock is currently owned by institutional investors.

Infosys Company Profile

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other.